Transcript Presentation to Administrators (9/02/15)

Science at the heart of medicine
Research Finance
Transition to the new
Albert Einstein College of Medicine
Date: Wednesday September 2, 2015
Location: Third Floor Lecture Hall - Forchheimer
Time: 10:00 am
Agenda
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Details on how to submit LRDs
NOA to New Einstein have been coming to us…slowly
What to expect from NIH
Review Milestones
What to expect in OBIEE
Key takeaways
What should you do now?
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Labor Redistributions
SM 15 (8/1/15 – 8/15/15)
SM 16 (8/16/15 – 8/31/15)
BW 17 (7/25/15 – 8/7/15)
BW 18 (8/8/15 – 8/21/15)
BW 19 (8/22/15 – 8/31/15)
SM 1 (9/1/15 – 9/15/15)
SM 2 (9/16/15 – 9/30/15)
BW 1 (9/1/15 – 9/4/15)
BW 2 (9/5/15 – 9/18/15)
Science at the heart of medicine
Inside Track
SSB
Must be
submitted
by 9/18/15
Citrix
SSB
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NOAs to New Einstein
• As on Monday, 12 NOAs effective 9/1/15
• What can you expect to see:
> We have confirmed with NIH that, due to the Successor
in Interest (SII), a type 5 will become a type 6
> The current budget period with YU will end early
(8/31/15), and the type 6 will begin at new Einstein with
the next year indicated as 9/1/15. This will result in
budgets distributed over six years, rather than the
typical five years; however, the length of time does not
change from the original project period, and there is no
change in the amount of funding
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Illustration of Budget Period changes due to
the SII
Before the SII
After the SII
Budget Start
Budget End
Year
Budget Start
Budget End
Year
3/1/14
2/28/15
-01
3/1/14
2/28/15
-01
3/1/15
2/28/16
-02
3/1/15
2/28/16 8/31/15
-02
3/1/16
2/28/17
-03
3/1/16 9/1/15
2/28/15 2/28/16
-03
3/1/17
2/28/18
-04
3/1/17 3/1/16
2/28/18 2/28/17
-04
3/1/18
2/28/19
-05
3/1/18 3/1/17
2/28/19 2/28/18
-05
3/1/18
2/29/19
-06
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What to expect from NIH
• Why is NIH asking for current IRB or IACUC in order
to proceed with the SII?
> In order for the grant specialist to complete the transfer s/he
needs to have a copy of the most current IRB or IACUC.
• Please either provide this information directly to the grant
specialist, or provide it to Suzanne Locke, who will
coordinate with the grant specialist.
• Why is NIH asking for a face page or other details?
> All the face pages were provided to NCI. NCI provided to the
institutes chief GMOs.
• Please forward requests from NIH or inquires to Suzanne
Locke, who will coordinate responses.
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What to expect from NIH continued
• Why does amount awarded to new Einstein in the NOA differ
from the anticipated balance we provided?
> We provided cumulative figures as the anticipated balance. In some
instances, we have observed that the grant specialist has changed
the anticipated balanced. S/he has taken a different approach. The
logic used by the grant specialist in a few instances to date was
either of the following:
• If the award cycled on 9/1/15, the funding for the budget period
beginning 9/1/15 was transferred to new Einstein.
• Only the current year balance was transferred to new Einstein.
•
NOTE: Please keep in mind, the anticipated balance is provisional; the true
balance will be known once the FFR through 8/31/15 is submitted and
accepted by NIH.
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Milestones
March &
April
Calculate 6/30
anticipated balance
to transfer
July
Load transferred
balance as
Provisional Budget
August &
September
LRDs, OTPS CT’s /
all adjustments post
to General Ledger
October &
November
Submit FFR
December
Receive NOA &
adjust budget
Example Scenario
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Changes to dates in OBIEE
• Current view in YU Banner/OBIEE
• View of COM Banner/OBIEE
>
>
The Project Start and End remain the same.
The Budget Year changes to 9/1/15
The NOA
will reflect
these dates
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Example Scenario
• Grant awarded $500K
• 7/1/15 -- We estimated unobligated balance = $175,150
• 11/20/15 -- FFR filed an unobligated balance = $116,800
• Budget Adjustment needed to reduce the budget is $58,350
> $175,150 - $116,800 = $58,360
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Example Scenario
Cost Pool
Salaries & Fringe
SubK
Estimated unobligated Revised NOA (after
Balance
filing the FFR)
40,000.00
100,000.00
Budget
Adjustment
40,000.00
-
50,000.00
(50,000.00)
Animal
-
Patient Care
-
Trainee Tuition
-
Trainee Health
Care
-
Lab Supplies
5,000.00
-
(5,000.00)
-
Other OTPS
F&A
TOTAL
30,150.00
26,800.00
(3,350.00)
175,150.00
116,800.00
(58,350.00)
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Change of plans
• We use rule codes to distinguish our budget entries.
• Currently we input budgets:
> BD01 = original
> BD02 = adjustments
> EB2 = adjustments performed by Administrators from
the Budget Transfer Tool. Financial Analysts also use
this rule code when adjusting budgets.
> GRCA/GRCR = Post award financial analysts when
adjusting between different years or when carryover is
required.
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Example view in OBIEE Budget Details
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Revised procedure
1. Provisional budget is loaded with PV01 $175,150
>
Completed August 2015
2. Original NOA to New Einstein is received
>
Expected September 2015
3. FFR is filed to NIH, reporting a balance of $116,800
>
Due by 11/20/2015
4. Reverse PV01 with PVBR removing the budget of $175,150
>
RF does in conjunction with #5.
5. Administrator breaks out the final balance of $116,800 into the 10
cost pools and we load as BD01 (original budget to New Einstein).
>
Revised NOA to New Einstein reflects $116,800
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Key takeaways
• LRDs for pay periods 8/31/15 and prior must be submitted by
9/18/15. There is no mechanism in place to process LRDs for
pay periods 8/31/15 past 9/18/15.
• The current budget period with YU will end early (8/31/15), and
the type 6 will begin at new Einstein with the next year indicated
as 9/1/15. This will result in budgets distributed over six years.
• Anticipated balance  Provisional budget, which is a temporary
budget. We will load and then remove once the final FFR is
submitted and accepted. We will ask you to break out the final
unobligated balance into the 10 cost pools.
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What should you do now?
• Reconcile all sponsored funds through 8/31/15.
• All transactions need to on the correct fund by the end
of September.
> Work with your Grant Accountant for expired funds
6/30/14 and prior.
> Work with you Einstein Financial Analyst for funds that
ended during FY15.
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